Sun. Jun 23rd, 2024

You can now manage installment payments in your TSP account

July 26, 2023
tspChanges large story

READ FULL ARTICLE AT » The Thrift Savings Plan (TSP)

Manage installment payments in My Account — You can now manage your installment payments in My Account at any time by stopping existing installments and requesting new installments.

To make certain changes, such as changing federal tax withholding and managing rollovers, without stopping your installments, you must call the ThriftLine.

After your initial installment start date, we’ll process subsequent installments on the fifteenth (or next business day) of the month they’re due.

If you stop or change your installments after noon eastern time on that date, you’ll still receive any payment already processed.

Keep in mind that you must wait 30 days between withdrawal and distribution requests. If you stop your installments within 30 days of making a withdrawal or distribution request, you need to wait the full 30 days from the date of the withdrawal request before you can request installments again.

Posted: July 25, 2023

Notify of
Inline Feedbacks
View all comments
Share this
Would love your thoughts, please comment.x